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Pastimes : Criminal Internet Stock Promoters Speak Out! -- Ignore unavailable to you. Want to Upgrade?

To: Don Pueblo who wrote (168)	11/10/1998 12:12:00 AM
From: Fredman	Respond to of 189

Ever wonder what it's like to be a fly - in (place the name of some hot Hollywood actress here=) xxxxxxx's bedroom, or MSFT's boardroom ?

To: Don Pueblo who wrote (168)	11/10/1998 2:36:00 AM
From: Intrepid1	Read Replies (2) \| Respond to of 189

The following article contains the names of some of the most hardened criminals operating today in the securities business... These dudes are so bad they even make dodgy Internet Stock Promoters look good. So take note: These guys are the real crooks. dailynews.yahoo.com Monday November 9 4:10 PM ET Investor-Broker Settlement OK'd NEW YORK (AP) - A federal judge today approved a $1.03 billion class-action settlement between 37 brokerages and investors who alleged they were cheated by the firms in a price-fixing conspiracy involving Nasdaq-listed stocks. The deal, which was brokered last December, is the largest civil antitrust settlement in history. The companies include the biggest names in the securities world such as Merrill Lynch & Co., Goldman, Sachs & Co., and Salomon Smith Barney Inc. The firms denied any wrongdoing. The settlement of the 1994 case follows government action to discipline the big trading firms for keeping stock prices artificially high - a practice that investigators said increased company profits and raised costs for investors. As part of a civil antitrust settlement with the Justice Department, 24 of the 37 brokerages also have agreed to improve their compliance procedures and tape-record some phone calls made and received by traders. The deal approved by U.S. District Judge Robert Sweet adds to the pressure on securities dealers to comply with civil agreements aimed at leveling the playing field in the Nasdaq stock market for big and small investors. The Securities and Exchange Commission had censured the National Association of Securities Dealers, saying it broke federal securities laws and its own rules in failing to enforce the rules on the Nasdaq, the nation's second-largest stock market. The NASD agreed to spend $100 million over five years to improve market surveillance. The SEC, the market watchdog agency, had accused major Nasdaq dealers of refusing to trade with others who tried to offer investors a better price for a stock as the powerful dealers colluded and tried to engage in price fixing. SEC spokesman Duncan King declined comment, saying the agency wasn't involved in the class-action suit. Spokesmen for the NASD and the Securities Industry Assocation had no immediate comment. There you have it. (Note: This is not a defense of Internet scammers. I am only trying to put things in their proper perspective) purething